Buckley Wealth Management LLC Buys 1,826 Shares of AbbVie Inc (NYSE:ABBV)

Buckley Wealth Management LLC raised its stake in AbbVie Inc (NYSE:ABBV) by 29.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 8,060 shares of the company’s stock after acquiring an additional 1,826 shares during the period. Buckley Wealth Management LLC’s holdings in AbbVie were worth $610,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Weaver Consulting Group bought a new stake in shares of AbbVie in the 1st quarter valued at about $25,000. Arbor Wealth Management LLC bought a new stake in shares of AbbVie in the 2nd quarter valued at about $28,000. Horrell Capital Management Inc. bought a new stake in shares of AbbVie in the 2nd quarter valued at about $33,000. TD Capital Management LLC bought a new stake in shares of AbbVie in the 2nd quarter valued at about $33,000. Finally, Lowe Wealth Advisors LLC grew its position in shares of AbbVie by 206.7% in the 2nd quarter. Lowe Wealth Advisors LLC now owns 460 shares of the company’s stock valued at $33,000 after buying an additional 310 shares during the last quarter. Hedge funds and other institutional investors own 68.14% of the company’s stock.

In other news, Vice Chairman Laura J. Schumacher purchased 25,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were acquired at an average cost of $70.42 per share, with a total value of $1,760,500.00. Following the purchase, the insider now owns 164,838 shares in the company, valued at $11,607,891.96. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Timothy J. Richmond sold 15,515 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $75.02, for a total value of $1,163,935.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 183,077 shares of company stock worth $10,705,751. 0.08% of the stock is owned by company insiders.

Shares of AbbVie stock traded down $0.83 on Friday, hitting $73.62. 494,377 shares of the company’s stock traded hands, compared to its average volume of 7,972,179. AbbVie Inc has a one year low of $62.66 and a one year high of $94.98. The company has a fifty day moving average of $70.30 and a two-hundred day moving average of $73.90. The company has a market capitalization of $108.71 billion, a price-to-earnings ratio of 9.31, a price-to-earnings-growth ratio of 1.50 and a beta of 0.99.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, July 26th. The company reported $2.26 EPS for the quarter, beating the consensus estimate of $2.21 by $0.05. AbbVie had a negative return on equity of 182.70% and a net margin of 12.62%. The company had revenue of $8.26 billion for the quarter, compared to analyst estimates of $8.09 billion. During the same quarter in the prior year, the company earned $2.00 EPS. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. As a group, analysts expect that AbbVie Inc will post 8.9 EPS for the current year.

The company also recently declared a — dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be paid a dividend of $1.07 per share. This represents a yield of 6.4%. The ex-dividend date of this dividend is Friday, October 11th. AbbVie’s dividend payout ratio (DPR) is currently 54.11%.

A number of equities research analysts have commented on ABBV shares. TheStreet lowered AbbVie from a “b-” rating to a “c” rating in a research report on Monday, August 26th. Piper Jaffray Companies upped their price target on AbbVie from $80.00 to $81.00 and gave the company an “overweight” rating in a research report on Wednesday, September 4th. Leerink Swann upgraded AbbVie to a “buy” rating in a research report on Tuesday, July 2nd. Citigroup upgraded AbbVie from a “neutral” rating to a “buy” rating and upped their target price for the company from $87.00 to $90.00 in a research report on Thursday, September 26th. Finally, UBS Group upgraded AbbVie from a “neutral” rating to a “buy” rating and cut their target price for the company from $85.00 to $79.00 in a research report on Thursday, September 12th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company’s stock. AbbVie has an average rating of “Hold” and an average target price of $89.97.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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